Is General Motors on the Rise?

GM has the numbers to back up the bullish sentiment, with March sales numbers coming in strong, but the story doesn't stop there.

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General Motors (NYSE:GM) shares are off by over 5% in 2013, having steadily declined since their January 15 high close of $30.60.

On December 19, the Treasury Department announced plans to sell its remaining 500 million shares of GM stock over a 12- to 15-month period, with GM buying back $200 million shares at $27.50 each. This led to the run-up to the 2013 high of $30.60. But in the subsequent reversal, shares gave up nearly all those gains. Now trading at levels similar to those prior to the announcement, analysts give the stock an average price target of $35 and an average ratting of Buy.

It would appear that GM has the numbers to back up the bullish sentiment, with March sales numbers coming in strong with year-over-year gains of 6.4% in the US, compared with Ford's (NYSE:F) 5.7%, Chrysler's (PINK:FIATY) 5%, and Toyota's (NYSE:TM) paltry 1%.

But the story doesn't stop there. Morningstar analyst David Whiston said, "GM's key US practice is still growing, and they have a very robust practice in China," estimating the stock's "fair value" to be in the $52-$56 range.